Regulation

Advisers could face a higher levy from the Financial Services Compensation Scheme (FSCS) under proposals for a new funding model.

The Financial Conduct Authority (FCA) is set to examine wealth managers' and private banks' business models as it establishes a new division to scrutinise the sector.

DIZZY HEIGHTS

HEAD TO HEAD

Fiona Murphy asks advisers and providers about the ‘unintended' consequences of RDR and how issues around suitability and provider systems are driving the market.

Chase de Vere today announced steep losses for 2012 of £11.2m, impacted by the £14.4m set aside to cover the costs of its Keydata legal battle and compensating clients sold Arch Cru and payment protection insurance.

HM Revenue & Customs (HMRC) is set to de-register up to 500 pension 'liberation' providers as part of a wider crackdown on the schemes.

The Financial Conduct Authority (FCA) has said it will step up its game in tackling financial crime and make increasing use of its newly gained enforcement powers.

Platforms will need to have at least £40bn in assets under management to survive the margin squeeze caused by new regulations, research by Deloitte has claimed.

Financial adviser support group SimplyBiz has reported a pre-tax profit of £3m for the year ending 31 December 2012, up 15% on the £2.5m figure recorded for 2011.